WKU FOUNDATION
Your Gifts. WKU's Future.
October 16, 2007
Mr. Bill Payne
Senior Associate, Finance
Kentucky Council on Post Secondary Education
Suite 320, 1024 Capital Center Drive
Frankfort, KY 40601
Dear Bill,
Enclosed is the report from the Western Kentucy University Foundation and the College
Heights Foundation for the Regional University Excellence Trust Fund Endowment Match
Program for the academic year 2006-2007. You will find information on 62 endowments valued
at a total of $26,788,398 as of June 30, 2007. The Web site for this information, plus details
concerning the Bucks for Brains professorships is http://www.wku.edu/IA/bucks/report.html.
This written report will be reviewed and approved by the Board of Trustees of the
Western Kentucky University Foundation at their quarterly meeting scheduled for Friday,
October 19, 2007. 1 will send you confirmation of that approval.
Please do not hesitate to contact me or Paula Jarboe, the Treasurer and Trust Accountant
of the Foundation, if you have questions or need additional information.
Cordially.
Thomas S. Hiles
Executive Director
Enclosures
1906 College Heights Blvd. #8094 | Bowling Green, KY 42101-1041 | Phone: 270.745.6208 Fax: 270.745.5323 | www.wkufoundation.org
WESTERN KENTUCKY UNIVERSITY
Western Kentucky University Foundation, Inc.
College Heights Foundation
Endowment Match Program
2006-2007 Summary Report
This report covers the activities and expenditures supported at Western Kentucky University
under the Endowment Match Program. Since the entire allocation for Western Kentucky
University was utilized at the end of the 2003-2004 fiscal year, Western Kentucky University did
not submit any requests for matching funds to the Council on Postsecondary Education during
fiscal year 2006-2007. A total of $11,772,209 was requested between 1998 and 2004; Council
staff processed all of those requests and disbursed the entire amount to Western Kentucky
University. WKU then transferred the funds to either the Western Kentucky University
Foundation or the College Heights Foundation under custodial agreements. With these funds,
the match program has helped create or expand a cumulative total of 62 endowments valued at
$26,788,398 as of June 30, 2007 (Table 7).
Since the program’s inception in 1998, private donations and state matching funds supported
the addition or expansion of one endowed chair, 21 professorships, 14 scholarship funds and 26
mission support activities at Western Kentucky University (Table 1). As of June 30, most of
those activities were operational.
Endowment Activity
As shown in Table 1, matching program funds were used to create one endowed chair, 21
endowed professorships, 14 endowed scholarships and 26 mission support projects since its
inception in 1998. Of these activities, the chair was occupied, 20 of the professorships were
occupied or reporting expenditures, twelve of the scholarships made awards and 18 of the
mission support projects reported expenditures. As of fiscal year-end, a total of 51 were active.
Details concerning these chairs and professorships may be found on our website at
www.wku.edu/IA/bucks.
Table 1: Match Program Positions, Programs, and Projects Established
During Fiscal Year 2006-2007 and Since Program Inception
2006-2007
1998-2007
Number
Established
Number*
Active
Number
Established
Number*
Active
Chairs
0
1
1
1
Professorships
0
20
21
20
Fellowships
0
0
0
0
Scholarships
0
12
14
12
Mission Support Projects
0
18
26
18
Totals
0
51
62
51
Activity
* Includes number of faculty positions occupied, number of student aid programs
making awards and number of mission support projects recording expenditures.
Demographic Information
The majority of the match program faculty recipients are male. As of June 30, 2007, a total
of 19 visiting professors and WKU faculty were receiving honorariums or salary supplements
through the program (see Table 2). The occupants of 11 of those positions (or 57.9 percent)
were male and eight (or 42.1 percent) were female.
Table 2: Gender of Match Program Faculty and Staff
As of June 30, 2007
Male
Female
Total
Chairs
Professors
Staff
1
10
0
0
8
0
1
18
0
Total
11
8
19
The majority of chairs and professors supported through the program are white, nonHispanics. As can be seen in Table 3, as of June 30, 2007, of the 19 match program faculty, 16
(or 84.2 percent) were white, one (or 5.3 percent) was black and two (or 10.5 percent) were
Asian.
Table 3: Race of Endowment Match Program Faculty and Staff
As of June 30, 2007
White
Black
Am.
Indian
Asian
Hispanic
Total
Chairs
Professorships
Staff
1
15
0
0
1
0
0
0
0
0
2
0
0
0
0
1
18
0
Total
16
1
0
2
0
19
Overall, the number of minority faculty employed through the match program decreased
during fiscal year 2007, due to the decrease in the number of visiting professors. By the end of
the year, 15.8 percent of all faculty supported with program funds were minorities. This
represents a slight decrease of 2.1 percent in the number of minority faculty employed between
fiscal year-end 2006 and 2007.
The number of students receiving financial aid awards through the program increased during
2006-2007. During the fiscal year, a total of 44 undergraduate and graduate students received
scholarship awards that were funded with endowment proceeds (see Table 4). This represented
an increase of 133.33 percent from 2005-2006. However, nine of the scholarship recipients (or
20.4 percent) were minority students, which is a 3.84 percent decrease from last year.
Table 4: Gender and Race of Match Program Financial Aid Recipients
For Awards Made During Fiscal Year 2006-2007
White
Black
Am.
Indian
Scholarship Recipients
Male
Female
10
25
7
2
0
0
0
0
0
0
17
27
Total
35
9
0
0
0
44
Asian
Hispanic
Total
In terms of gender, the majority of financial aid recipients were female. Seventeen of the 44
scholarship recipients (38.6 percent) were male and twenty seven were female (61.4 percent).
The number of total scholarship recipients increased between fiscal years 2006 and 2007; the
number of females increased from 19 to 27 and the number of male recipients increased from 14
to 17.
Sources of Funds
During fiscal year 2006-07, Western Kentucky University did not receive any state funds
through the Endowment Match Program (Table 6). All state funds were previously matched
with cash gifts and pledges from private sources through the Western Kentucky University
Foundation and College Heights Foundation. Since 1998, a total of $24,443,689 in private and
state funds were used to create or expand 62 endowments. Over half of the funds received from
private sources was cash or cash equivalent gifts ($12,084,196 or 95.4 percent) and the
remainder is in outstanding pledges ($587,284 or 4.6 percent).
Areas of Concentration
The 2002-2004 Endowment Match Program Guidelines stipulate that 50 percent of any
matching gifts and pledges received after October 1, 2003, must be used to support the Programs
of Distinction at comprehensive institutions. All gifts and pledges used by WKU for this
matching program were documented before this deadline. However, Western Kentucky
University has two approved Programs of Distinction: The Center for the 21st Media and The
Applied Research and Technology Program. Through June 30, 2007, Western Kentucky
University received all $11,772,209 of its 1998-2004 match program appropriation. That
amount was matched with $11,972,810 in cash gifts and pledges, bringing the total amount of the
1998-2004 program funds to $23,745,019. Of that amount, $6,851,000 or 28.9 percent will be
used to support positions in the Council on Postsecondary Education Programs of Distinction for
WKU and $8,874,249 or 37.3 percent will be used to support the new economy priority areas.
Those priority areas include: Human Health and Development (25.9 percent), Biosciences (.4
percent), Materials Science and Advanced Manufacturing (0.0 percent), Information
Technologies and Communications (11 percent), and Environmental and Energy Technologies
(0.0 percent).
Table 5: Match Program Funds Dedicated to Council Priority Areas
For All Matched Appropriation Funds
State Funds *
Private Funds **
Total Funds
Percent of Total
Programs of Distinction
Applied
Research and
Technology
$2,839,500
$ 2,839,500
$5,679,000
24.0%
586,000
3,425,500
586,000
3,425,500
1,172,000
6,851,000
4.9%
28.9%
Human Health
3,058,579
Biosciences
50,000
Materials Science
Information Tech 1,311,000
Environmental Tech
Sub-total
4,419,579
3,093,670
50,000
1,311,000
4,454,670
6,152,249
100,000
2,622,000
8,874,249
25.9%
.4%
11.0%
37.3%
3,927,130
4,092,640
8,019,770
33.8%
$ 11,772,209
$11,972,810
$23,745,019
100.0%
Center for
21st Media
Sub-total
New Economy Areas
Other Disciplines
Total
*
Includes all match program appropriation funds received by the university.
** Includes only cash gifts and pledges that were used to match appropriation funds received.
There is no remaining unmatched balance of Western Kentucky University’s match program
appropriation.
Earnings and Expenditures
As of June 30, 2007, the total market value of the 62 endowment accounts established under
the Endowment Matching Program was $26,788,398 (Table 7). Of that amount, $11,772,209 (or
43.95 percent) were state funds and $15,016,189 (or 56.05 percent) were gift funds, interest
income and market growth. Foundation records show an outstanding balance of $587,284 in
unpaid pledges on these accounts. Over $840,000 was expended for program activities during
the fiscal year ending June 30, 2007.
Western Kentucky University Foundation
Western Kentucky University Foundation and College Heights Foundation
Table 6: Endowments Established or Expanded with State Funds
During Fiscal Year 2006-07
Private Funds
Date
Established/
Expanded
Endowment Name
State
Funds
Gifts
Pledges
Grand
Total
Total
Endowments Established:
None
$
-
$
-
$
-
$
-
$
-
Endowments Expanded:
None
-
Grand Total
$
-
-
$
-
-
$
-
-
$
-
-
$
-
Western Kentucky University
Western Kentucky University Foundation and College Heights Foundation
Table 7: Components of Change in Endowment Market Value
From Beginning to End of Fiscal Year 2006-07
Prior to 7/1/06
Endowment Title
State
Funds
Received
Date
Established
Year 7/1/06-6/30/07
Market
Value
6/30/2006
Gifts
Received
Outstanding
Pledges
6/30/2006
Investment
Earnings
(Loss)
Gifts
Received
Earnings
Expended
2006-07
Market
Value
6/30/2007
Outstanding
Pledges
6/30/2007
Existing Endowments:
Laura Goad Turner Foundation Fund for Excellence in Symphony
Dorris J. Hutchison Scholarship Fund
BB&T Visiting Professorship Fund
Wendell Cherry Visiting Professorship in Business Leadership & Ethics
Rafferty's Inc. Endowed Scholarship Fund
Turner Professorship in Journalism
Gildersleeve Fund for Geology and Geography
Athena Cage Scholarship Fund
Confidential Visiting Professorship in Education
Pelino Fund for Excellence in Communications
Commonwealth Health Corporation Scholarships
Paul G. & Ernestine G. Hatcher Modern Languages Lecture Series
Walter N. Scott Professorship in Biology
Mr. and Mrs. Raymond Simmons Agriculture Scholarship Fund
Frockt Family Professorship in History
Greenview Regional Hospital Fund for Nursing
Glenn R. and Joan B. Garrison Scholarship Fund
Excellence Fund for Music - Symphony
Thomas R. and Judith L. Hunt Scholarship Fund
Tom and Nancy Baird Kentucky Library Endowment
Caleb Slaton/Logan Aluminum Endowed Scholarship Fund
Dero Downing Spirit Makes The Master Scholarship
Budde Fund for Excellence in Journalism
Gifted Studies Professorship
Sofia International Faculty Fund for Excellence
Pat Eubank French Memorial Scholarship Fund
Betty Lou Smith Scholarship and Ben Corbin Memorial Scholarship
Zuheir & Susan Sofia Scholarship Fund for International Students
Harlin Parker Scholarship Fund
Kerr - Greulich Endowment for Ogden College
Service One Credit Union Endowed Scholarship Fund
Tom Gorin Dean's Fund for Excellence
Cangemi Faculty Award for COE
Moseley-Watkins Fund for Excellence in English
Gordon Ford College of Business Endowment
Bramham/Collins Visual & Performing Guest Artist Endowment
Lester and Dorothy Reeves Institutional Fund for Gerontology
M. Eddie Carter Gifted Studies Faculty Fund
Knicely Professorship in Leadership Studies
Jim Scott Professorship
Bell Fund for Civil Engineering
Gail Martin Lecture & Faculty Development Series
Minority Teacher Support Endowment
Larry B. Shelton Dean's Fund for Excellence
9/23/2003
9/6/2003
8/28/2003
7/16/2003
7/10/2003
7/1/2003
6/6/2003
5/15/2003
4/28/2003
12/31/2002
5/31/2002
11/6/2001
12/4/2000
5/28/2003
3/21/2003
3/14/2003
11/7/2002
10/16/2002
10/9/2002
9/30/2002
7/31/2002
6/24/2002
5/29/2002
5/9/2002
1/31/2002
12/17/2001
5/24/2001
10/31/1998
12/31/2001
3/30/2001
2/1/2001
12/31/2000
9/4/2000
8/10/2000
8/4/2000
8/1/2000
8/1/2000
7/27/2000
7/19/2000
7/10/2000
6/30/2000
6/12/2000
6/12/2000
5/25/2000
$
125,000
155,000
250,000
250,000
100,000
500,000
50,000
50,000
250,000
50,000
500,000
25,000
250,000
50,000
500,000
100,000
100,000
50,000
50,000
50,000
50,000
90,000
86,000
500,000
200,000
54,630
80,000
250,000
10,000
114,500
10,000
25,000
15,000
2,500
50,000
60,000
100,000
25,000
500,000
1,000,000
125,000
25,000
25,000
15,000
$
70,000
230,001
150,000
150,000
25,000
500,290
42,087
10,198
145,000
25,205
500,000
17,035
150,000
33,613
500,000
100,000
100,594
59,121
25,041
53,550
50,000
90,000
64,438
227,472
112,536
43,785
66,525
163,280
9,555
167,100
36,920
25,000
17,500
7,375
50,020
60,000
100,172
25,000
461,836
1,001,000
125,000
29,985
41,237
15,000
$
192,561
324,521
460,148
455,831
148,175
1,132,098
99,002
27,602
444,905
85,050
1,099,530
42,302
469,592
93,151
1,129,409
238,342
228,398
129,021
88,932
119,078
103,327
193,187
175,644
850,815
365,451
108,195
153,845
462,339
23,943
309,564
48,239
54,114
38,127
11,418
112,575
122,586
220,642
53,318
1,006,513
1,999,233
232,990
96,815
73,237
31,900
$
55,000
100,000
100,000
100,000
75,000
7,913
39,802
105,000
24,794
7,965
100,000
16,387
24,959
21,562
272,579
87,464
16,215
13,475
86,720
445
18,400
500
125
38,164
-
$
25,000
40,000
50,000
50,000
30,000
105,000
15,030
187,500
5,000
50,000
417
15,562
235,945
12,464
3,380
16,000
55,400
2,000
31,000
9,420
83
470
2,155
9,385
-
$
18,107
26,384
42,607
41,685
14,256
101,860
8,902
2,470
20,156
7,879
104,677
3,995
43,774
8,644
100,585
21,445
20,965
11,628
10,587
11,026
9,408
17,644
16,478
82,401
33,275
10,038
13,375
43,280
2,240
28,336
4,364
4,863
3,350
1,031
10,014
10,993
3,407
4,704
90,222
178,107
20,989
8,632
6,919
2,865
$
(7,500)
(6,000)
(10,118)
(5,932)
(2,342)
(13,418)
(2,706)
(1,315)
(12,132)
(1,036)
(221,648)
(687)
(7,132)
(3,000)
(39,570)
(2,739)
(7,500)
(1,485)
(1,000)
(5,000)
(12,750)
(2,452)
(16,204)
(4,259)
(2,500)
(14,932)
(18,313)
(12,209)
(2,060)
(1,230)
(1,428)
(132)
(3,591)
(4,570)
(1,000)
(2,247)
(18,521)
(64,814)
(6,716)
(4,860)
(2,887)
(531)
228,168
384,905
542,636
541,583
190,089
1,220,541
105,198
28,757
557,928
106,924
1,170,058
50,610
556,234
98,795
1,190,424
257,049
241,863
139,580
99,519
129,104
107,735
198,081
205,231
1,152,958
406,932
119,113
168,288
542,706
28,183
356,691
59,964
57,746
40,048
12,400
118,998
129,009
223,049
55,775
1,078,215
2,112,526
247,733
102,742
86,654
34,235
30,000
60,000
50,000
50,000
45,000
7,913
39,802
9,764
2,965
50,000
16,387
24,959
6,000
36,634
75,000
12,835
31,320
500
42
38,164
-
Prior to 7/1/06
Date
Established
Endowment Title
Ward Visiting Professorship for Women's Studies
College of Education Dean's Fund for Excellence
Gordon Ford College of Business Dean's Fund for Excellence
Ogden College of Science and Engineering Dean's Fund for Excellence
Potter College of Arts Dean's Fund for Excellence
Johnson & St. Clair Center for Gifted Studies Faculty Support
Boyd-Lubker Visiting Scholars Program
Faculty Fund for Excellence in Ogden College/Hard Sciences
Hall Professorship in Construction Engineering
Wm. M. McCormack Professorship
Leon Page Professorship in Banking & Financial Planning
CHC/Centercare Visiting Professorship
J. Clifford Todd Professor in Longevity and Healthful Living
Hays Watkins Visiting CEO Professorship
Jerry E. Baker Professorship in Music
Mary R. Nixon Professorship in Accounting
Mattie Newman Ford Professorship in Entrepreneurship
Layne Professorship in Mechanical Engineering
Grand Total
5/25/2000
5/18/2000
5/18/2000
5/18/2000
5/18/2000
5/12/2000
5/4/2000
4/27/2000
1/18/2000
1/11/2000
1/10/2000
1/7/2000
10/31/1999
9/28/1999
1/28/1999
1/4/1999
11/19/1998
9/25/1998
State
Funds
Received
Gifts
Received
Year 7/1/06-6/30/07
Market
Value
6/30/2006
Outstanding
Pledges
6/30/2006
Gifts
Received
Investment
Earnings
(Loss)
110,000
12,500
12,500
12,500
12,500
12,500
100,000
5,870
500,000
500,000
500,000
315,209
500,000
311,000
500,000
500,000
500,000
500,000
110,000
12,500
12,500
12,500
12,503
12,500
100,100
5,870
500,001
500,000
500,000
350,000
500,000
336,000
501,166
501,545
501,528
500,000
193,770
27,186
27,733
25,969
27,357
28,519
204,691
3,171
996,499
1,073,242
951,427
661,288
1,239,042
707,599
1,083,042
1,096,452
1,048,842
979,107
-
284,320
2,482
17,213
2,448
2,496
2,336
2,461
2,569
18,415
286
89,350
96,323
85,004
59,046
115,266
64,531
96,638
98,152
93,698
87,920
$ 11,772,209
$ 10,846,183
$ 24,230,599
$ 1,312,469
$ 1,238,013
$ 2,162,716
Earnings
Expended
2006-07
(9,781)
(786)
(467)
(298)
(314)
(328)
(9,047)
(37)
(23,291)
(21,163)
(29,063)
(22,799)
(42,905)
(8,529)
(34,285)
(26,451)
(38,649)
(24,272)
Market
Value
6/30/2007
Outstanding
Pledges
6/30/2007
201,202
28,848
29,762
28,006
29,503
30,759
214,059
3,420
1,062,557
1,148,401
1,007,368
697,536
1,311,403
1,047,920
1,145,395
1,168,154
1,103,891
1,045,237
$ (842,930) $ 26,788,398
$
587,284
FD-21 Endowment Match Program Outcome Measures Report
Fiscal Years 2006 and 2007
Due Date: October 15
FY 2006
FY 2007
Annual Giving
Amount of Voluntary Support Received by the University
Amount of Voluntary Support Anticipated to be Matched
$ 14,485,097
$
-
$
$
Endowment Market Value
Market Value of University and Foundation Endowment Assets
Market Value of Match Program Endowment Assets
$ 86,000,000
$ 24,270,401
$ 102,155,000
$ 26,788,398
1
1
1
1
29
21
29
21
Chairs and Professorships
Number of University Endowed Chairs
Number of Match Program Endowed Chairs
Number of University Endowed Professorships
Number of Match Program Endowed Professorships
R&D Expenditures
Amount of Federal R&D Expenditures Generated by the University
Amount of Federal R&D Expenditures Generated by Match Program Faculty
Amount of Extramural R&D Expenditures Generated by the University
Amount of Extramural R&D Expenditures Generated by Match Program Faculty
17,555,695
-
$
$
7,256,980
-
$
$
8,400,257
-
$
$
654,346
-
$
$
558,969
-
Invention Disclosures and Patents
Number of Invention Disclosures Received by the University
Number of Invention Disclosures Generated by Match Program Faculty
-
4
27
-
Number of U.S. Patent Applications Filed by the University
Number of U.S. Patent Applications Generated by Match Program Faculty
-
-
Number of New U.S. Patent Applications Filed by the University
Number of New U.S. Patent Applications Generated by Match Program Faculty
-
-
Number of U.S. Patents Issued to the University
Number of U.S. Patents Generated by Match Program Faculty
-
-
-
-
License/Option Agreements
Number of Licenses/Options Executed by the University
Number of Licenses/Options Generated by Match Program Faculty
Number of Active Licenses/Options Executed by the University
Number of Active Licenses/Options Generated by Match Program Faculty
Amount of License Income Received by the University
Amount of License Income Generated by Match Program Faculty
Start-Up Activity
Number of Start-Up Companies Formed / Dependent on University Technology
Number of Start-Up Companies Formed / Generated by Match Program Faculty
Number of Start-Up Companies Formed / Operating In-State
2
1
1
1
$
$
-
17
$
$
5,500
-
-
Note: Match program figures are subsets of university-level data. As such, institutional totals reported above should include
match program data.